If you’ve ever sat through afternoon TV or sorted through a stack of mail, there’s a good chance you’ve come across Colonial Penn’s famous $9.95 a month life insurance offer. The commercials sound incredibly simple — “just $9.95 for peace of mind.” Honestly, it does catch your attention.
But when you look closer, things don’t work quite the way most people assume.
This breakdown isn’t sugar-coated or based on advertising language. It’s the plain truth, written the way a real person would explain it to a friend who’s trying to make a smart financial decision.
The Real Story Behind Colonial Penn’s $9.95 Price
Here’s the part you don’t hear in the commercials:
The $9.95 isn’t the price of a full policy. It’s the price of one “unit.”
A “unit” is just a tiny piece of coverage — and how much coverage you actually get per unit depends completely on your age.
A few examples so it’s easy to picture:
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Someone around age 50 gets roughly $1,200 of coverage per unit
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Someone in their mid-70s may get closer to $400–$500 per unit
So if you’re older, you’re paying the same $9.95… but getting significantly less coverage.
And if you’re hoping for something like $10,000 in protection to cover funeral or burial expenses, you’d need multiple units. Often:
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3–6 units
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Meaning $30, $50, or even $70 a month
Suddenly, it no longer feels like the bargain the TV ads make it sound like.
Yes, It’s Guaranteed Acceptance — But There’s a Catch
Colonial Penn does offer Guaranteed Acceptance, meaning:
✔ No medical exams
✔ No health questions
✔ Easy approval for almost anyone 50–85
But there’s an important detail they put in the fine print:
During the first two years, the policy does NOT pay the full death benefit for natural causes.
If the person passes away during that period, the payout is basically:
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The premiums that were paid
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Plus a little interest
Only after those two years can beneficiaries receive the full payout.
This structure is called a graded benefit, and it’s very common in no-exam guaranteed plans. It’s not necessarily bad — you just need to know what you’re getting into.
Is the $9.95 Plan the Best Deal? Sometimes… but usually not.
To be fair, Colonial Penn is a well-known company. Millions of people trust them, and for someone who has serious health issues and can’t qualify for anything else, the plan can serve a purpose.
But here’s the honest truth most people discover once they compare:
Other companies often give you more coverage for the same money — and sometimes with no medical exam at all.
This is exactly why many people talk to an independent agency instead of going directly to one carrier.
Where Ryco Life Solutions Makes a Difference
Choosing life insurance is a lot easier when you’re not stuck looking at just one company.
At Ryco Life Solutions, licensed agents don’t try to push one specific plan. They compare options from many well-rated insurers to find:
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Better monthly pricing
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Higher coverage amounts
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Plans that fit your age and health
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Options without medical exams
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Policies that protect families from rising funeral and burial costs
Whether you’re looking for:
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Final expense coverage
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Whole life insurance
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Senior life insurance with easy approval
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Affordable burial policies
Ryco Life Solutions walks you through every step in plain, simple language — no pressure, no confusing jargon.
You can explore plans anytime at RycoLifeSolutions.com, or you can call 314-876-0334 to speak with an actual agent instead of an automated menu.
So… Is Colonial Penn’s $9.95 Plan Worth It?
It depends on your situation. It’s not a scam — but it’s also not the “one-price-covers-everything” deal many people believe it is.
Here’s the bottom line:
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If you’re healthy:
You can likely get more coverage for the same or lower monthly cost elsewhere. -
If you have health challenges:
Colonial Penn’s plan can still help, but you should compare it with other guaranteed-acceptance policies.
Most people are surprised to learn that for roughly the same $9.95, they could actually receive two to three times more coverage from a different insurer.
Final Thoughts — Protect Your Family the Smart Way
Life insurance isn’t just a bill. It’s a promise that your family won’t have to scramble to cover funeral costs or final expenses. Whether you choose Colonial Penn or a different company, the important thing is understanding what you’re buying.
Before you decide on anything, get a quick comparison. It takes a minute, and it can save you serious money.
👉 Visit RycoLifeSolutions.com to see which plans give you the best value
or
📞 Call 314-876-0334 to speak with a friendly, licensed agent.
A little clarity now can make a big difference for your loved ones later.